Friday, 20 September 2013

Pre-Market Brief

Good morning. Futures are a touch lower, sp -1pt, we're set to open at 1721. Precious metals are significantly lower, with Gold -$15. Oil is moderately lower, -0.2%. Bulls can easily sustain any opex chop, down to around sp'1710. Weekly charts will remain outright bullish.



So, we're set to open a touch lower, and I think there is a fair chance by late morning we'll be somewhere in the sp'1715/10 zone.

At that level, I'll seriously consider going long the indexes, with an exit target of the 1730s next week.

Today is quad-opex, so price action could be a bit choppy.

Notable movers in early market: AAPL +$7 @ $479.,  GDX -1.8%.

It would seem Oscar agrees with my view, at least for today

Stay tuned!

9.17am.. so much for a slightly lower open,  sp +3pts, we're now set to open at 1725.

Regardless,  I won't chase the open. Lets see how we trade across the morning. 

9.37am...looks like a sell the open situation.

The sp'1715/10 zone looks very viable later today.